ID :
138142
Wed, 08/18/2010 - 08:16
Auther :
Shortlink :
http://m.oananews.org//node/138142
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Commerce Ministry to accelerate trade expansion with Peru
BANGKOK, Aug 18 – Thailand's Ministry of Commerce will speed negotiations with Peru for expanded bilateral trade and investment following parliamentary approval of the draft amendment to the Thailand-Peru Free Trade Area protocol.
Commerce Minister Porntival Nakasai said the ministry will negotiate sooner with Peru about effecting the free trade agreement (FTA) as Parliament has passed a protocol on an FTA to accelerate the liberalisation of trade items and procedures.
She said the parliamentary approval reflects the ministry’s success in going ahead in negotiations with Peru, Thailand’s key trade partner in South America. The move will help increase the value of trade and investment for both countries.
Mrs Porntiva said Thai export products expected to benefit from effecting the FTA include pickups and electrical appliances such as televisions and refrigerators, which are in great demand in Peru.
Simultaneously, Peru has abundant key raw materials which Thailand needs for production for export including copper, silver, and forest products.
In investment terms, it is expected Thailand would be able to count on Peru as a gateway to other countries in South America while Peru could use Thailand as a gateway to other countries in Southeast Asia.
Thailand and Peru had an annual trade value of US$180.3 million on average in the past five years.
In the first half of this year, bilateral trade value totaled $193 million with Thailand exporting to a value of $136 million to Peru and importing in value of $57 million, resulting in a trade surplus of $80 million. (MCOT online news)
Commerce Minister Porntival Nakasai said the ministry will negotiate sooner with Peru about effecting the free trade agreement (FTA) as Parliament has passed a protocol on an FTA to accelerate the liberalisation of trade items and procedures.
She said the parliamentary approval reflects the ministry’s success in going ahead in negotiations with Peru, Thailand’s key trade partner in South America. The move will help increase the value of trade and investment for both countries.
Mrs Porntiva said Thai export products expected to benefit from effecting the FTA include pickups and electrical appliances such as televisions and refrigerators, which are in great demand in Peru.
Simultaneously, Peru has abundant key raw materials which Thailand needs for production for export including copper, silver, and forest products.
In investment terms, it is expected Thailand would be able to count on Peru as a gateway to other countries in South America while Peru could use Thailand as a gateway to other countries in Southeast Asia.
Thailand and Peru had an annual trade value of US$180.3 million on average in the past five years.
In the first half of this year, bilateral trade value totaled $193 million with Thailand exporting to a value of $136 million to Peru and importing in value of $57 million, resulting in a trade surplus of $80 million. (MCOT online news)
